The My Trader Coin securities fraud trial of Jonathan Sifuentes has been set for August 22nd.
In 2020, the Arizona Corporation Commission sued Sifuentes and six other defendants.
The claims made by the ACC concern stocks obtained through the Ponzi schemes My Trader Coin and Now Mining.
Charges against four of the defendants have already been resolved. Earlier this year, a third person was required to undergo a neuropsychological assessment.
According to a document filed on May 19th, defendant Moises Herrera (69) has been evaluated and deemed to be
not capable of taking part in the two-week experiment scheduled for August 2022.
Yolanda Herrera, Moises’ wife, asserts that she
is only mentioned in this lawsuit since she is married to Mr. Herrera. and is unaware of the pertinent details of this case.
Herreras’ filing has not yet been addressed by the court.
Jonathan Sifuentes is due to appear before the court at the time of publishing. It is unknown if Sifuentes will show up for the trial.
The court has asked the counsel representing Sifuentes to give notice of how their witnesses and representatives would appear before the court. either physically or digitally.
The Commission has decided that it is reasonable to give the parties in each Division matter that will go to a hearing the choice of having their witnesses and representatives participate in person or remotely through Web Ex.
The hearing procedure, in this case, has not yet been decided.
The Commission will anticipate that a party’s representatives and witnesses will appear in person if it does not file a statement detailing how they will take part in the hearing.
By July 22nd, attendance reports must be filed.
Sifuentes marketed My Trader Coin to primarily Hispanic churchgoers in the area.
My Trader Coin, which was introduced in early 2017, went under later that year.
Sifuentes got a taste for MLM Ponzi fraud and began making plans to introduce Xira Lifestyle in the latter part of 2019.
Sifuentes left for Mexico after realizing that the ACC was looking into him.
Until his arrest by Mexican authorities earlier this year, Sifuentes continued to run his Xifra Lifestyle Ponzi scheme there.
Sifuentes left for Dubai shortly after that. He changed Xifra Lifestyle to Decentra Universe there.
On May 27, Decentra Universe began operations. Sifuentes keeps defrauding people with his new Ponzi scam.
The world’s MLM crime capital in Dubai. Sifuentes effectively escapes law enforcement by fleeing to that location.
Sifuentes may be arrested if he is obliged to attend the ACC trial in Arizona.
This depends on if US authorities, who haven’t done so yet, have launched a federal inquiry against Xifra Lifestyle.
Our next update, barring any unforeseen filings or developments, should come after Sifuentes’ August trial.
17th June 2022 update The Arizona Securities Division submitted a joint motion on June 8th asking that the Herreras’ lawsuit be dropped.
Herrera’s inability to “personally engage and prepare for a hearing” has been acknowledged by the Division.
The court has not yet granted the motion as of the time of this update. Jonathan Sifuentes, who seems to still be hiding out in Dubai, has not received any updates.